st1/:*{behavior:url(#ieooui) } New Bank Indonesia Regulation on the Business Plans of BanksThe Governor of Bank Indonesia issued a new regulation concerning Bank’s Business Plans. This new regulation revokes the previous regulation except for certain provisions related to reports on the realization of Business Plans and reports on the supervision of Business Plans which remain valid until the end of the 2010 Business Plan reporting period ...
Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) is intended to give a debtor time and ability to restructure its balance sheet and business or to liquidate its assets responsibly in order to maximize recoveries of creditors. The Bankruptcy Code has the added benefit of the automatic stay, which generally prevents collection actions or actions to exercise rights and remedies against the debtor’s assets during the pendency of the bankruptcy case ...
Good news in times of crisis: The eagerly awaited draft of the Restructuring and Insolvency Directive Implementation Act (RIRL-UG) was published yesterday. The law with which Directive (EU) 2019/1023 (Restructuring Directive) is implemented in Austria is to come into force on July 17, 2021 (at the end of the implementation period). The review phase will run until April 6, 2021 ...
When a client or customer files for bankruptcy, a business’ treatment of that customer’s account must change. Many businesses have dedicated bankruptcy departments or teams that deal with these accounts. However, it can take a while before the account is flagged or transferred to the bankruptcy team. Further, some smaller business bankruptcy teams are comprised of other department employees just wearing a “bankruptcy hat” when working on those accounts ...
On January 7th 2021, the bankruptcy moratorium, which had been in effect since April last year, expired. The main conditions of the bankruptcy moratorium were described earlier in details: in newsletters “Moratorium on bankruptcy proceedings”and 'Russian bankruptcy moratorium extended until January, 2021” ...
As consumer bankruptcy filings remain an all-too-common occurrence, many lenders continue to find themselves in the often murky world of bankruptcy. As a result, on top of ensuring adherence to the numerous confusing regulations applicable to commercial loan transactions, lenders must navigate the federal bankruptcy laws. This article sheds some light on one bankruptcy process lenders are often faced with: reaffirmation agreements ...
U.S. Bankruptcy Judge Jacqueline P. Cox recently found that three Illinois attorneys violated their ethical obligations by failing to return their client's phone calls. She ordered the attorneys to return roughly half of their already-court-approved, and paid, flat fee. In In re: Molnar in the U.S. Bankruptcy Court for the Northern District of Illinois in February, the debtor filed a petition under Chapter 13 ...
The amendments to Russian Federal Law “On the insolvency (bankruptcy)”, adopted and came into force in January, 2009, affected both general and procedural provisions of the Law. We at ALRUD Law Firm provide full professional service at the highest level for our clients therefore we ought to analyze the impact and the consequences of these substantial changes of the procedure of bankruptcy ...
On 14 March 2022 in Philipp v Barclays Bank UK Plc [2022] EWCA Civ 318 the Court of Appeal gave further guidance on the extent of the Quincecare duty owed by banks to their customers. What is a Quincecare duty? It is well established that banks have a duty to use reasonable skill and care in carrying out customers’ orders which includes not complying with instructions if they have reasonable grounds for believing the order was an attempt to misappropriate funds ...
When I was a young lawyer working for the Norwegian Competition Authority, a complaint was received that gave rise to some amusement among the staff at the authority. The complainant argued that the Norwegian football club Viking FK’s signing of the half-decent footballer Ragnvald Soma from rivalling club SK Brann constituted an infringement of Norwegian competition law. Nowadays, competition law in football is no longer a laughing matter ...
All shops, bars, restaurants and leisure centres will be closed at least until 6 April 2020. Only grocery stores, pet food stores, pharmacies, banks, post offices and book shops will remain open until that date insofar as the social distancing (at least 1 meter distance) can be guaranteed. Night shops can stay open until 10 pm insofar as social distancing is applied. Food stalls on markets are only allowed insofar as considered essential ...
Introduction I have been asked to speak on the Base Erosion Profit Sharing of the OECD, or better know as BEPS. This is a new acronym that, similar to CRS and the harmful tax initiative program, is geared at a multilateral approach to the application of uniform tax rules and standards. Unlike the CRS and the harmful tax practices initiatives of the past, BEPS has a focus not necessarily on the private client, but on the multinational commercial organization ...
Is Tesco exploiting Lidl’s reputation as a discount or ‘value’ supermarket? This is what Lidl are alleging in the most recent supermarket trademark dispute. The question being put before the Court is essentially whether Tesco’s ‘Clubcard Prices’ logo infringes on Lidl’s brand logo, as both appear as text in a yellow circle on a blue background ...
The value of the car is no longer merely associated with the car body, its engine or other material parts. Substantial value is found in the knowledge that controls the car – knowledge that does not only steer the car, but which may form the basis for maintenance and repairs planning, computing insurance premiums or indicating who is liable in the case of damage ...
To achieve this step in the process, set aside time to create a wide range of solutions that advance shared interest. This can be done before and during your negotiation or mediation. There are 4 major obstacles which inhibit consideration of options: Premature judgment Hinders imagination and possibilities ...
The Foreign Influence Registration Scheme (FIRS) will compel non-UK businesses and their UK agents or representatives to register if they are engaged in ‘political influencing activity’. Failure to register would be a criminal offence potentially leading to a fine or imprisonment. The FIRS is included in draft legislation – the National Security Bill - which, if adopted, is foreseen to come into effect in Q1 2023 ...
WHAT'S NEW COVID-19 Business Strategies Hub Since the news first broke about the COVID-19 pandemic and its impact on the global economy, Dinsmore has worked diligently to create the COVID-19 Business Strategies Hub. The Hub features attorney insights and complementary webinars to help you prepare and respond to legal, regulatory, and commercial implications related to the crisis ...
In the wake of the spate of recent business collapses the Department of Business, Energy and Industrial Strategy (BEIS) has published a White Paper titled “Restoring trust in audit and corporate governance”. The White Paper is open for consultation until 8 July 2021, and feedback can be submitted directly online via the BEIS website or emailed to [email protected] ...
“Belarus will become the first government in the world that opens wide opportunities for the use of blockchain technology”, said in a statement on the official website of the President of Belarus. Alexander Lukashenko, who signed the new law of the land, believes that his county “has every chance of becoming a regional center in this area.” The Presidential Decree of the Republic of Belarus No ...
On 17 March 2022, the Belgian Act transposing the ECN+ Directive and also introducing further amendments into the Belgian Competition Act entered into force. It has introduced merger filing fees, fines for failure to notify mergers and a number of procedural changes that allow a more efficient enforcement and an improved cooperation within the ECN Network ...
In two recently published decisions, the College of Prosecutors (‘Auditorat’) ruled on requests for interim measures from Belgian Posters and Clear Channel against the granting by the Brussels-Capital Region of a public tender contract to JC Decaux (‘JCD’). Belgian Posters and Clear Channel claimed that JCD had a dominant position (or even a monopoly) in the market for theprovision of so-called ‘urban advertisement furniture' (e.g ...
